Bank of England policymaker warns Brexit could be 'downright dangerous' for UK

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A senior policymaker at the Bank of England has said Brexit could be “downright dangerous” for financial stability and that the institution should not be “neutered” to stop it speaking out on political issues.

Martin Taylor, an external member of the Bank's Financial Policy Committee, which safeguards the UK’s financial system, said he was disturbed that Threadneedle Street had been “accused of speaking when it should have remained silent” on Brexit.

He said in a speech at Queens University Belfast on Thursday: “The Bank strives to be neutral. That does not mean it should be neutered.”

Brexit had “potential consequences [that] are not merely inconvenient but downright dangerous for financial...